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Business people who travel a lot sometimes decide they can run their own airline

Airlines draw entrepreneurs like a magnet — the ultimate big boy’s toy. But the industry is littered with stories of those who flourished briefly but subsequently failed. “Whatever background entrepreneurs come from, they tend to fly a lot,” says Keith McMullan, managing director of Aviation Economics, a consultancy to the industry.

“They see unresponsiveness to market demand and think they can do it better. If you get it right, then an airline can be cash-generative quite quickly and produce a good return on capital — but only a small number are long-term successful.”